look news india
It is the turn of the families to bear another burden of inflation. The trend of increase in onion prices continues. Since the quality of kharif crops in Rajasthan, Maharashtra and Karnataka remains poor and export demand has also increased, the demand for high value old crops has increased. Last week, onion prices in Lasalgaon Mandi of Nashik were Rs 54 per kg. Which had crossed the highest level of five years. A fortnight ago the price of good quality onion was Rs 51 per kg. Which has now increased to Rs 71 per kg. Whereas in Nashik's Pimpalgaon market the average price has increased from Rs 51 per kg to Rs 58 per kg during the same period. Moreover, Bangladesh has removed duty on onion imports and exports have surged. Dealers believe prices will come down eight to ten days after the new crop arrives elsewhere in the country.
Vendors said that onion has become expensive due to lack of supply. Because, during Diwali, wholesale markets across the country remained closed for several days. During the last one week, an increase of 30 to 35 percent has been seen in the wholesale price of onion. The quantity of onion stored from last year's Rabi crop is continuously decreasing. The highest prices are obtained for stored onions harvested in March-April. Since, the arrival of the new crop is delayed in September due to rain.
On the other hand, Bangladesh's exports have increased after the removal of duty on onion. Therefore the local market has been affected. India halved the export duty on onion to 20 percent in September. Market experts say that the arrival of new Kharif crop has started increasing in some markets like Alwar of Rajasthan. Growth is also expected soon in Maharashtra, Madhya Pradesh and Gujarat.